The Sandur Manganese & Iron Ores Limited (SMIORE), a prominent private sector mining company, has successfully concluded the strategic acquisition of Arjas Steel Private Limited, the company announced on November 15. SMIORE has increased its stake in Arjas from the initially announced 80% to approximately 99%, solidifying its control over the specialty steel company.

This significant milestone marks a pivotal moment in SMIORE's transformation into an integrated metals and mining company. According to their presser, Arjas has now become a material subsidiary of SMIORE, allowing for seamless integration of operations and synergies. The enterprise value of the transaction is estimated at around Rs 3,000 crore (approximately $35.54 billion), with an equity value of approximately Rs 2,000 crore ($23.69 billion).

A New Era for SMIORE

Bahirji Ghorpade, Managing Director of SMIORE, expressed his enthusiasm for the acquisition, stating, "This is a pivotal moment in our journey to become a leading metals and mining company. The integration of Arjas will strengthen our business model and position us for future growth."

Ghorpade further emphasized the potential synergies between the two companies, particularly in the areas of auto, defense, railways, energy, and exports. He highlighted the commitment to driving Arjas' growth and enhancing its position as a premier player in the specialty steel industry.

About SMIORE -

The Sandur Group is a diversified Indian conglomerate with a strong presence in sectors such as mining, metallurgy, energy, and agriculture. Established over 60 years ago, the group is known for its mining operations, particularly in the extraction of iron ore and manganese. Sandur’s industrial portfolio includes steel manufacturing, power generation, and ferro alloys, while its agricultural arm focuses on sustainable practices. The company is committed to sustainability, technological innovation, and enhancing shareholder value through responsible business practices across its diverse operations.

About Arjas Steel –

Arjas Group is a global leader in the production of high-performance castings, specializing in engineered iron and steel products for industries like automotive, energy, and heavy machinery. With a focus on quality, innovation, and sustainability, Arjas offers advanced casting solutions that meet the evolving needs of its customers. The company’s expertise spans design, manufacturing, and testing, providing durable and reliable components for critical applications. Arjas Group emphasizes cutting-edge technology and strong customer relationships to deliver exceptional value in the global marketplace.

Looking Ahead

The successful completion of the Arjas Steel acquisition positions SMIORE as a formidable force in the metals and mining industry. The company is well-positioned to capitalize on emerging opportunities, drive innovation, and deliver sustainable value to its stakeholders.